QuickBooks Inventory – Setting a Unique Markup – Part 9

Posted by on May 2, 2011 in Inventory Module | 0 comments

This section on markup, can of course be used for more than just inventory items. You can set this for any type of item, whether it be an inventory part, non-inventory part, service and other charge items.

In QuickBooks you can add a markup of your basic costs by entering in a unique item markup percentage.  This percentage will then be used to calculate the sales price of that item.

You will have to choose this new rate from the drop down box in the Rate field once you have created it.  If you do not want to use the default markup, you  can override it with a figure of your own.

 

 

The following are the steps to setup the markup percentage:

From the Menu Bar choose List then Price Level List.

From the Price Level List window, right click on your mouse and choose New.

Create a New Price Level Name  and from the Price Level Type drop down box select Per Item

In this example, I will click on the line in the check-mark column that says – Direct Labour: Clean Up Labour

On the adjust price of marked items to be line I’m going to key in 10.% and in the next field choose higher from the drop down box.

Tabbing over, I will choose standard price because this what I want to markup for that item.

In the round up to the nearest field I chose no rounding.

To finish I clicked on Adjust and QuickBooks changed the Custom Price to 44.00

The next time I create an invoice and I want to use this new rate, I will choose it from the drop down box in the Rate field.

Next up will be a series of adding specific items for the inventory assembly.

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